News

MediaCorp has announced plans to discontinue TVMobile, its free-to-air mobile television broadcast service, on 1 January 2010. When TVM was launched in 2001, it was the only platform that offered quality digital content to public commuters. Said MediaCorp in its announcement: “Inasmuch as TVM provides a rich source of entertainment and information to commuters, the resources required to operate and maintain the service are substantial. Having carefully evaluated the viability of the service, MediaCorp has decided to discontinue the service upon expiry of its current agreement with SBS Transit.”

Flights to Germany’s third-largest city will commence on 28 March 2010.

Glencore International AG will expand its trading operations in Singapore by buying more than half of Chemoil Energy Ltd.

New guidelines will ensure telecommunications companies offer consumers better deals.

Consumers in Singapore are expected to keep dishing out the dollars on dining out, electronics and clothes for the next six months.

Construction and support services provider Swiber Holdings Ltd. announced a Letter of Award today from a major oil company in South East Asia worth US $81.4 million.

A schizophrenic Q3 had property prices manically picking up with spots of panic-selling in august, while the months of November and December finally calm the nerves of industry players as property markets exhibit a steady increase.

Singapore Exchange Limited and the Association of Financial and Commodity Traders launched an algorithmic trading initiative to upgrade professional traders’ skills last Friday.

The plant, which is one of the largest mono-ethylene glycol plants in the world, was launched last Friday, 11 December.

Independent Directors of Sino-Environment Technology Group were granted court orders to restrain their executive directors from selling any major assets.

An alternative settlement scheme for RMB 1.5 billion convertible bonds will ease cash flow pressures on Delong Group.

ARA Asset Management Limited has launched its real estate management services business division after being appointed property manager of Suntec REIT’s Suntec City Properties.

Singapore Exchange Ltd is inviting public feedback on proposed new measures to strengthen the practices of corporate governance as well as rule amendments to foster greater disclosure.

The tender for an industrial site along Pioneer Road North/Soon Lee Drive closed yesterday after an application bid of $8.2 million came in.

In the context of society’s increasingly urgent need for faster, better, more reliable IT needs, Singapore’s leading IT professionals sat down at the China Club to discuss the issues that Cloud Computing has thrown up. The roundtable event by the Singapore Business Review and EMC engaged its participants in an intriguing discussion on the concerns with Cloud Computing today and how companies really view this growing practice. Elizabeth Low brings you the highlights of the discussion.

Straits Asia Resources Ltd., is in talks with banks for a potential $380 million worth of five-year loan intended for maturing debt repayment.